Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 302 Billion | USD 489 Billion | 4.5% | 2021 |
FrequentlyAsked Questions
The global agricultural & forestry machinery market is anticipated to grow significantly during the forecast period due to the constantly growing demand for advanced machinery in the developed regions. The growing economic stability in many countries has increased the demand for food. Moreover, the growing population across the globe is also posing high demand for food.
According to the report, the global agricultural & forestry machinery market size was worth around USD 302 billion in 2021 and is predicted to grow to around USD 489 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2022 and 2030.
The global agricultural & forestry machinery market growth is expected to be driven by Asia Pacific. It is currently the world’s highest revenue-generating market due to increased awareness among farmers about the use of farming machines and mechanized farming practices.
The global agricultural & forestry machinery market is dominated by players like Mahindra & Mahindra, Claas KGaA mbH, Kubota Corporation, Caterpillar Inc., AGCO Corporation, Deere & Company, Weifang Euro king Machinery, John Deere, Bucher Industries AG, Bonang Transmission, Hubei Machinery and Equipment, Same Deutz-Fahr, AGROSTROJ Pelhrimov, Valmont Industries Incorporated., China National Machinery Industry Corporation, Escorts Limited, Concern Tractor Plants., among others.
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